Rio sells another Australian coal asset

Mining major Rio Tinto has signed a binding agreement with Australian coal producer Whitehaven Coal to divest of its 75% interest in the Winchester South coal project, in Queensland, for A$200-million. “We believe this agreement for the sale of Winchester South represents the best option for the future development of the project while delivering attractive value for Rio Tinto as we continue to streamline our portfolio,” said Rio CEO Jean-Sebastian Jacques.